Plan Resource Management and Related Concepts

Vocabulary flashcards covering resource management, scheduling techniques, financial concepts, and strategic marketing topics from the lecture notes.

Plan Resource Management

The process of defining how to estimate, acquire, manage, and utilize physical and human resources on a project.

Resource Allocation

Assigning available resources—materials, labor, equipment, money—to project tasks or activities.

Resource Leveling

Adjusting the project schedule to keep resource use within limits when resources are scarce or shared.

Material Leveling

A type of resource leveling that balances daily demand for construction materials with supply or delivery constraints.

Manpower Leveling

Redistributing work to keep labor use balanced and avoid worker over- or underutilization during a project.

Equipment Leveling

Rescheduling activities to optimize use of limited or expensive construction equipment.

Critical Path Method (CPM)

Scheduling technique that identifies the longest sequence of dependent activities and the shortest project duration.

Float (Slack)

The amount of time an activity can be delayed without affecting the project’s finish date.

Fast Tracking

Schedule-compression technique that performs activities in parallel instead of sequentially, without adding resources.

Project Crashing

Shortening schedule duration for the least incremental cost by adding resources to critical-path activities.

Time–Cost Trade-Off

Analyzing how reducing project time affects total cost to find the most economical schedule duration.

Resource Smoothing

Optimizing resource usage within predefined time limits; tasks may shift only within available float.

Financial Institutions

Organizations such as banks and insurers that mobilize savings and allocate capital within an economy.

Financial Markets

Marketplaces—e.g., stock or bond exchanges—where financial assets are bought and sold.

Depth (Institutions/Markets)

A measure of size and robustness—e.g., total assets of banks or market capitalization of exchanges.

Access (Institutions/Markets)

The ease with which users can obtain financial services or enter financial markets.

Efficiency (Institutions/Markets)

How well financial entities allocate capital and process transactions at minimal cost and delay.

Capital Accumulation

Growth of productive assets through saving and investment, fostering economic development.

Detailed Market Planning

Structured analysis and strategy for reaching target customers and selling products or services.

Market Analysis

Assessment of industry trends, demand–supply conditions, competitors, and internal strengths/weaknesses.

Industry Trends

Prevailing movements—such as urbanization or digital construction—that influence market demand.

Competitor Analysis

Identifying and evaluating rival firms’ strengths, weaknesses, and market positions.

SWOT Analysis

Framework listing a firm’s strengths, weaknesses, opportunities, and threats.

Business Development

Strategic pursuit of long-term value by expanding markets, customers, and partnerships.

Lead Generation

Process of attracting and identifying potential customers for a business’s offerings.

Cash Flow Forecast

Projection of project inflows and outflows to ensure sufficient liquidity over time.

S-Curve

Graph showing cumulative project cost or progress over time, typically S-shaped.

Overtime Pay (PH Art. 87)

Philippine labor rule granting at least 25 % premium on wages for work beyond eight hours.

Liquidated Damages

Contractual penalties imposed for failing to meet specified completion dates.

Equipment Idle Time

Cost incurred when rented or owned machinery is not in productive use.

Material Substitution

Using alternate materials to avoid delays or shortages, often with cost implications.

Resource Overallocation

Situation where demand for a resource exceeds its availability within a time frame.

Resource Capacity Constraints

Limits on the maximum amount of a resource that can be used at any given time.

Predecessor

An activity that must finish before another activity can begin.

Project Schedule

Timetable showing planned start and finish dates for project activities.

Critical Path

Sequence of tasks that determines the earliest possible project completion date.

Resource Availability

The amount of a particular resource that can be used at a given time.

Project Duration

Total time required to complete all project activities.

Labor Efficiency

Measure of productivity achieved by the workforce relative to effort expended.

Worker Fatigue

Reduced performance and increased risk due to prolonged or intensive labor without adequate rest.

Delivery Restrictions

Limits on the quantity of materials that can be delivered per day or period.

Cost Constraint

Condition where budget limits influence project decisions more than time or scope.

Time Constraint

Condition where meeting deadlines is more critical than cost or scope considerations.

Scope Constraint

Requirement that project deliverables remain unchanged; quality takes precedence over time/cost.

Fuel Consumption Rate

Amount of fuel used per unit time by equipment; affects operating cost and productivity.

Financial Development

Growth and improvement of financial institutions and markets that boost economic performance.

Marketing Plan

Document outlining a company’s strategy to reach target customers and sell its offerings.

Digital Transformation

Integration of digital technologies into business processes to improve efficiency and value.

Strategic Marketing Planning

Systematic process of researching, setting objectives, and crafting tactics to reach chosen markets.

Market Segmentation

Dividing a broad market into distinct groups with common needs or characteristics.

Brand Building

Activities aimed at developing a strong, recognizable identity that differentiates a company.

Investor Engagement

Efforts to attract and retain investors through communication and value propositions.

Global Branding

Positioning a product or project to appeal to international audiences and markets.

Crash Cost per Week

Incremental cost incurred to reduce an activity’s duration by one week through crashing.

Resource Optimization

Balancing resources, time, and cost to achieve project objectives efficiently.

Project Float

Time a task can slip without delaying project finish; equivalent to schedule slack.

Scheduling Conflicts

Overlaps or resource clashes that arise when multiple tasks compete for limited resources.

Extended Overhead

Additional indirect costs incurred when a project duration is lengthened.

Construction Materials

Physical inputs—cement, rebar, sand, etc.—used to build structures.

Overtime Cost

Extra expense paid to workers for hours worked beyond standard shifts.

Alternate Supplier

Secondary vendor used to obtain materials when the primary supplier cannot deliver on time.

Equipment Rental Cost

Fee paid to use machinery owned by another party for a specified period.

Savings Mobilization

Process by which financial systems gather individual savings for productive investment.